The Nigerian Education Loan Fund (NELFund) said on Friday that it has further approved student loans amounting to over N2,530,235,750, to be disbursed across many institutions, benefiting 22,120 students.
A few days ago, NELFund announced that N1.1bn was previously spent on institutional fees of over 20,000 students (100% paid) in several institutions across the country.
But in addition to the institutional fees, NELFund said it has also commenced the payment of stipends for the upkeep to students, an initiative that will provide essential financial support for living expenses.
It further explained that disbursements are made based on each institution’s academic calendar (beginning of session).
NELFund spokesman, Nasir Ayitogo, in a statement, explained that a total of N442 million has been allocated for July, stressing that disbursements will ensure that Nigerian students can proceed with their academic activities unimpeded, thus fostering peace of mind that’s much needed for these students and their families.
“The upkeep payments will benefit all 22,120 students across 12 institutions, with more to come in the coming weeks and months. This reflects the federal government’s commitment to the overall well-being and academic success of Nigerian students in government institutions.
“These figures highlight NELFund’s unwavering dedication to ensuring that financial constraints do not impede academic pursuits. These disbursements will significantly ease the financial burdens on students and their families, enabling them to focus on their studies and future careers,” it explained.
THE SUN
